Suppose that the price of product B increases from $10 to $15 and, in response, quantity demanded declines from 100 to 80. Using the midpoint formula, what is the elasticity of demand?
A)2.5
B)1.33
C)0.4
D)0.56
E)0.75

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The Answer of Suppose that the price of product B increases from $10 to $15 and, in response, quantity demanded declines from 100 to 80. Using the midpoint formula, what is the elasticity of demand?
A)2.5
B)1.33
C)0.4
D)0.56
E)0.75

Suppose That the Price of Product B Increases from $10